Textron Inc. (NYSE:TXT) Shares Sold by First Western Trust Bank

First Western Trust Bank lessened its holdings in shares of Textron Inc. (NYSE:TXT) by 19.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,396 shares of the aerospace company’s stock after selling 564 shares during the period. First Western Trust Bank’s holdings in Textron were worth $212,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TXT. Empirical Finance LLC raised its holdings in Textron by 1.7% during the third quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock worth $624,000 after purchasing an additional 115 shares in the last quarter. Davis Investment Partners LLC lifted its position in Textron by 0.8% in the third quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company’s stock valued at $1,290,000 after acquiring an additional 118 shares during the last quarter. Apollon Wealth Management LLC boosted its stake in Textron by 4.9% in the third quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock valued at $235,000 after acquiring an additional 125 shares in the last quarter. Altman Advisors Inc. grew its holdings in shares of Textron by 0.6% during the second quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company’s stock worth $1,894,000 after purchasing an additional 129 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Textron by 0.8% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company’s stock worth $1,558,000 after purchasing an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Bank of America raised their price target on Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. lowered their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Robert W. Baird decreased their price target on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. UBS Group lowered their price objective on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. Finally, Citigroup increased their target price on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Textron presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.56.

Textron Trading Down 1.8 %

NYSE TXT opened at $83.34 on Tuesday. Textron Inc. has a 52-week low of $74.13 and a 52-week high of $97.33. The firm has a 50-day moving average price of $86.32 and a 200 day moving average price of $87.31. The stock has a market capitalization of $15.46 billion, a P/E ratio of 18.32, a P/E/G ratio of 1.53 and a beta of 1.24. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.49 earnings per share. Equities research analysts expect that Textron Inc. will post 5.52 EPS for the current year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date is Friday, December 13th. Textron’s dividend payout ratio is currently 1.76%.

Textron Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.